I recently had the pleasure of attending Adweek’s Commerce Week. This 3-day event brought together leaders in the retail space to share insight into the latest trends and provide a peek at tomorrow’s marketplace. From the metaverse to new immersive shopping experiences, there were many insightful trends shared.
Below is a summary of my key takeaways from the event.
#1. Marketers are looking to elevate experiential shopping
Both retailers and brands are seeking to elevate experiential shopping to create an immersive experience that blends the virtual and physical worlds to keep today’s consumers engaged and interested. To elevate the shopping experience, marketers are turning to technology solutions that align with consumer preferences. Brie Olson, President at Pacsun shared the advances that the company is making within the virtual realm, launching a dedicated experience on Roblox with PACWORLD, being the first fashion retailer to accept cryptocurrency, debuting NFTs, and securing its first plot of land in The Sandbox, a game in the metaverse. Hearing from brands about how they’re meeting consumers in the virtual realm makes me excited for the future of digital commerce.
#2. Consumers want to leverage technology to interact with brands
Human attention spans are dwindling. Capturing a consumer’s time and attention is more important than ever. This can be achieved by leveraging technology that drives engagement with consumers. Nicole F. Henry, Director of Growth Marketing at Inmar Intelligence shared the results of a recent survey which revealed that more consumers are becoming comfortable with AI tools. In fact, 49% of consumers have used these tools to engage with brands over the past year. This makes advertising no longer a one-way street. Marketers should explore new ways to capture consumers’ attention by leveraging advancements in technology.
#3. Marketing campaigns are becoming more personalized
If there was one standout topic covered most at the conference it would be personalization. There were several conversations centered around the benefits of providing personalized and integrated marketing experiences for consumers across physical and digital channels. Consumers want the advertisements they receive to be relevant to them. In fact, 86% of consumers are likely to enjoy personalized offers based on their interests and previous browsing and purchase history. But, providing the level of personalization that consumers expect takes a great deal of coordination. Brands need access to the right data, tools, and personalization experts to successfully execute an effective personalized marketing experience.
#4. Connected TV (CTV) is an increasingly valuable channel
Executing impactful CTV campaigns has traditionally presented many challenges, particularly surrounding measurement. Another significant challenge is advertising fatigue. Consumers get frustrated by seeing the same advertisement on repeat. Throughout my conversations at the conference, it was apparent that CTV is a priority channel for many marketers and they’re eager to overcome the couch to conversion confusion. With the living room expected to be the next digital storefront, CTV holds significant potential. Through access to thoughtful creative strategies and dynamic tools, advertisers have the ability to deliver more impactful personalized CTV experiences.
#5. The consumer should be at the core of all strategies
Understanding the consumer on a deeper level is one of the most important things marketers can do today. Knowing the consumer’s interests and delivering value in moments of receptivity can help foster stronger relationships and build brand preference. Aki’s Product Marketing Manager, Caroline Capungcol shared tactical ways for brands to capture and convert consumers through building more meaningful relationships, which is summarized in Caroline’s recent blog.
The energy in the room over the 3 days was inspiring. I witnessed collaboration between brands, agencies and technology partners, all sharing their own knowledge to support each other’s businesses and ultimately drive brand commerce success.
Above are some photos taken during Caroline and Nicole’s workshop. Watch the full recording here. If you would like to discuss any of my key takeaways in more detail, feel free to email me at: rc@a.ki.
Risa Crandall, SVP CPG Strategy and Sales at Aki